Automox raises $110M in Series C round

BOULDER — IT security software maker Automox Inc. has raised $110 million in its third round of fundraising as it prepares to expand its customer base.

In a statement, the Boulder company said Dmitri Alperovitch will be promoted from a board member to the company’s board chairman as part of the round.

Alperovitch is a co-founder and former chief technology officer of cybersecurity giant CrowdStrike Holdings Inc. (Nasdaq: CRWD), which was tasked with high-profile cyberattack investigations ranging from the Sony Pictures email leaks of 2014 to the Democratic National Committee email leaks in 2016.

The nine-figure funding round more than tripled the company’s total amount of venture capital raised, after having raised approximately $42 million since it was founded in 2016.

A funding disclosure has not been filed with the U.S. Securities and Exchange Commission as of Tuesday afternoon.

Automox develops software that automatically sends security patches to enterprises with several “endpoints”, or computers that are connected to a cloud server. Updating endpoints can be an arduous manual task, but not having electronics uniformly updated across a business poses a security risk if hackers are able to take advantage of out-of-date patches.

The company said it will use the new funding to add more features to its enterprise platform and build out its sales team, along with hiring more than 100 people through the end of 2021. It claims more than 2,000 customers across 30 countries.

© 2021 BizWest Media LLC